Four Stocks To Watch This Week - Monday, August 5 -

Four Stocks To Watch This Week – Monday, August 5

Aug 05, 2024Jeremy ParkinsonFinance0

The unease we’ve been mentioning over the past several weeks has borne bearish fruit in the last two weeks. The good news is that stocks are correcting across the board, which means they will ultimately provide new optimal opportunities around the higher probability key technical levels, giving us the prime setups we like best. This market volatility will have more to run. In times like this, it’s best to be patient. Quality has been even more patchy this week than in the past six weeks. So, enjoy observing (like a lion!) and those optimal setups will arrive in due course. Here are four stocks to keep on your radar this week:

WiseTraders Weekly Watchlist – August 05, 2024 to August 09, 2024

FUTU (bearish) – Dropping below its 200-dma with bearish Big Money Footprints, ideally this will stabilize for a few days before dropping some more.

GILD (bullish) – Consolidating above its 200-dma Key Level with bullish Big Money Footprints, this stock might prove to be immune from outside market tensions.

LMT (bearish) – Defense stocks have been smashing it recently but they look temporarily overbought. A drop below $540 should see a short term downward drift.

PDD (bearish) – Hitting its head at a major Key Level with bearish Shrinking Retracements and OVI. A retest of its $110 support is possible if the market continues to decline.

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